Economic calendar: Middle East escalation, central bankers' speeches

• Markets in risk-off moods after escalation in the Middle East
• Oil jumps over 3%, index futures down
• Speeches from ECB and Fed members

Risk-off moods can be seen on the markets at the beginning of a new week after Hamas launched a surprise attack on Israel over the weekend. Hostilities are continuing, risking bringing instability back to the Middle East. US and European index futures are trading over 0.5% lower while oil prices are up 3.5%. Gold gains over 1% and climbs back above $1,850 per ounce.

Economic calendar for today is light with the European Sentix index for October being the only release. However, there are a number of speeches from central bankers scheduled for today. Liquidity conditions are also expected to be lighter in the afternoon due to Columbus Day in the United States. This is a partial market holiday with equity markets operating and bond markets being closed.

Things get more interesting later into the week with FOMC minutes (Wednesday,) US CPI data (Thursday) as well as the beginning of the Wall Street earnings season.

9:30 am BST - Euro area, Sentix index for October. Expected: -23.0. Previous: -21.5

Central bankers' speakers

• 9:00 am BST - ECB De Guindos
• 9:15 am BST - ECB Centeno
• 12:00 pm BST - ECB Knot
• 1:00 pm BST - ECB De Cos
• 2:00 pm BST - Fed Logan
• 2:15 pm BST - Fed Barr
• 6:30 pm BST - Fed Jefferson
• 11:00 pm BST - BoE Mann